Alan Greenspan
Alan Greenspan
Alan Greenspanis an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private adviser and provides consulting for firms through his company, Greenspan Associates LLC. First appointed Federal Reserve chairman by President Ronald Reagan in August 1987, he was reappointed at successive four-year intervals until retiring on January 31, 2006, after the second-longest tenure in the position...
NationalityAmerican
ProfessionEconomist
Date of Birth6 March 1926
CityNew York City, NY
CountryUnited States of America
Whether those adjustments are wrenching will depend ... on the degree of economic flexibility that we and our trading partners maintain, and I hope enhance, in the years ahead,
We're going to see some erosion in a number of macroeconomic variables
What they perceive as newly abundant liquidity can readily disappear,
when we are at neutral, we will know it.
Unless the situation is reversed, at some point these budget trends will cause serious economic disruptions,
Instead of trying to contain a putative bubble by drastic actions with largely unpredictable consequences, we chose, as we noted in our mid-1999 congressional testimony, to focus on policies to mitigate the fallout when it occurs and, hopefully, ease the transition to the next expansion.
In retrospect, I see nothing that we did that was inappropriate in terms of policy,
In principle, stock-option grants, properly constructed, can be highly effective in aligning corporate officers' incentives with those of shareholders, ... Regrettably, the current accounting for options has created some perverse effects on the quality of corporate disclosures that, arguably, is further complicating the evaluation of earnings.
I recognize that there is a stock market bubble problem at this point, ... and I agree with Governor Lindsey that this is a problem that we should keep an eye on.
I haven't stipulated increased rates of return are a significant issue in this debate.
I realize what that does to competitiveness, but that's the way markets work efficiently. In other words, to prevent the exchange rates from moving creates all sorts of distortions.
high enough to raise questions about whether shares are overvalued.
By the measure of what benefits consumers, such enterprises should not be discouraged,
But it is clear that, for the time being at least, the increase in spending on consumer goods and houses has come down several notches, albeit from very high levels.